Clean Coal Technologies signs contract with China’s Huamin Senior Holding Group

Source: Clean Coal Technologies, Inc

Clean Coal Technologies, Inc. (CCTI), a clean-energy technology company, announced the signing of a technology licensing and royalty agreement with China’s Huamin Senior Fund Holding Group Co., Ltd. 

Under the terms of the Agreement, the Huamin Senior Holdings Group (Huamin) commits to construct an initial 1.5 million ton per annum clean coal facility, to be followed by 5 million ton per annum additional production increments over the course of the 30-year contract. The Agreement provides for capacity increments to be installed either directly by Huamin Group, or through sub-license agreements. CCTI is to receive one-time license fees based on installed capacity, plus ongoing royalties based on annual production over the life of the contract. Full details can be found in CCTI’s 8-K filing with the SEC. Initial license fees to CCTI will commence following the completion and acceptance of the initial government-mandated feasibility study(ies) process. 

“This contract is an opportunity to address China’s pressing need for a cleaner, domestic-sourced fuel. The country has over 115 billion tons of coal addressable by CCTI’s unique technology that not only removes moisture, but also removes volatile matters containing coal’s worst pollutants,” stated Robin Eves, President and Chief Executive Officer of Clean Coal Technologies, Inc. 

Professional services for the engineering design, procurement, and construction (EPC) of the initial and all subsequent plants will be under the oversight of SAIC’s (NYSE:SAI) wholly- owned subsidiary, SEE&I, formerly the Benham Companies, based in Oklahoma City, Oklahoma. 

“This is a pivotal event in CCTI’s history,” continued Mr. Eves. “The Agreement sets the stage for large-scale deployment of the CCTI technology in China and other contracts to follow, and is a major step in establishing CCTI as a global company.” “The designs are in place to ensure a rapid and efficient deployment”. 

Mr. Huang Side, Chairman of the Board of Huamin Senior Fund Holding Group Co., Ltd. (Huamin Group), stated that: “The exploration and promotion of the alternative energy by Huamin Group is subject to the need of China and also China’s senior industry. The development of clean coal technologies is also a supplement of China’s senior industry, and the success of the clean coal project will surely inject new blood and play a strong role in promoting China’s senior industry. I am confident that our cooperation with CCTI will advance successfully.” 

CCTI, a cleaner-energy technology company headquartered in New York City, NY, owns a patented process technology to convert coal into a cleaner burning fuel source. This technology is a “mild gasification” process that removes moisture and volatile matters. 

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